A recent Google Consumer survey led by USLegalWills.com shows that a majority of Americans—72 percent—don’t have an up-to-date will. People over 65 years old are the most likely age group to not have an updated will, and of the 65 percent of seniors who reported having a will, almost one in four said it was out-of-date. Read more about the survey results here.
What does this mean to you? If you don’t have a will, or haven’t updated your will recently, contact your financial adviser as soon as possible to make sure you have a document on file that reflects your current needs and wishes. If you’ve had any major life changes since your will was drafted (e.g. the birth of children, changes in marital status) then it is especially important to review your will and make revisions as necessary.
Also, consider talking to your parents or other older relatives about the status of their will. While the conversation may be difficult at first, it can help you avoid the stressful ramifications of dealing with your loved one’s out-of-date will after their death, and it may help ensure that you’ll be able to carry out his or her wishes.
If you have questions regarding your estate planning documents, please call GCW Capital Group today so we can help get your financial planning started.
GCW Capital Group, LLC is not a law firm and you should consult your legal counsel for specific advice.
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